Before anything else, this is not a solicitation to invest in FarmOn. I am not an agent of FarmOn nor part of their team. I am just updating dear readers on the developments regarding FarmOn because we continue to receive many inquiries on when the new cycle will open. Just like how we cover the multitude of investment options out there, laying out the pros and cons and highlighting the fine prints.
And I trust that our dear readers know what they are doing, anyway this is the 20th cycle already. Caveat emptor. Better to get this out clear given the various SEC advisories coming out warning against those not listed with them and/or those not given secondary license to solicit investments.
For any investment, conduct utmost due diligence, aral muna bago invest, only risk the money you can afford to lose, and always proceed with caution.
So, back to FarmOn:
FARMON 20TH CYCLE
- Registration: Oct 3, 2018 until Nov 29, 2018 (note that this is the last cycle for the year)
- Start of Farming: Jan 15, 2019
- Products Available: Rice variants, Banana, Mango
- On this cycle, they are also accepting cash gifts and sponsors for their Annual Farmers Christmas Party-Outreach
Visit their Facebook post here: FarmOn 20th Cycle.
Again, caveat emptor. In case you missed it, here’s a listing of historical ROIs that we have received from FarmOn. Note that we haven’t tried withdrawing our funds yet. So it’s possible na pera na, nawala pa. Wag naman sana.
FarmOn posted an update on the crops in Isabela and Cagayan after the onslaught of typhoon Ompong. To quote:
All crops planted in the Isabela Area are fine and was able to survive the Typhoon’s impact. However, we regret to inform you that all rice crops planted in the Cagayan Area are damaged due to strong wind and flood. FarmOn technicians are currently out on the field to assess and check further damages.
As part of the contract, FarmOn will replant the crops for unfortunate events like this free of charge from the affected investors. Here’s hoping that farmers up there are safe and survived the typhoon.
REMINDER ON SEC ADVISORIES
In case you missed it as well, speaking of SEC advisories, click here for the supposed SEC documents of FarmOn (see the comments section at the bottom of the article). Meanwhile, here are the advisories on PhilCrowd and Organico (in the comments, it is mentioned that Organico is now SEC registered but no confirmation whether it can solicit investments).
Here’s our stand on crowdfunding in general:
For us, we’re managing our existing exposures. We think these crowdfunding platforms are great, they are the future. They enable small players to have more investment options. Meanwhile, we cannot fault SEC for doing their jobs in protecting the public’s money. The key is for SEC and the crowdfunding groups to work hand-in-hand on how they come into an agreement the soonest possible time — how to regulate crowdfunding because that is where we are headed. It’s the future. Financial technology a.k.a. fintech folks!
This is like LTFRB being kinda late in managing and knowing how to regulate the TNVS – the future of transport, hence the recent mess and brouhaha in Uber, Grab, etc. Our government is trying to play catch up. Our SEC also has to do a better job in expediting and promulgating the proper rules and measures to ensure that crowdfunding groups do a good job in growing and protecting Juan’s money, while funneling economic activity and funds to sectors that are in dire need of financing – agriculture mostly.
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May you have a richer life!